Tuesday, September 13, 2011

Watchers for the 9-14-11 trading session


Yeah, I'm stubborn and this is consolidating annoyingly. I'm still avoiding longs though a B/O above 1.07 and holds is possible. A fall fail back under 1 to fade or panic dumps to short scalp are still possible. See my previous comments, they are still mostly applicable. No doubt it remains a watcher due to the chart signals.


New 52's. Short term, these yearly high stocks usually go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit to debut or opens flat and falls briefly, a red to green and hold with strong volume. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs (10.07) and holds. Avoid shorts, keep flat on true weakness. Nice chart. Volume on the move up big, which is a poor sign for new longs. Needs to keep above the Tuesday close or at minimum over 9.75 on pull backs to remain viable as a long, aside from any early noise. No A/H quote change.


At this point I'm not long, and considering this for an over extension play top fishing expedition with a hopeful fail at or around the 1.50 area. This seems to have some recent resistance. A stop a bit above 1.60 if it triggers and reverses. Ideal is a flat or nominally up/down debut with a try and ceiling near the above price. If it gaps down too much we may not get the entry. A gap over the level and fall fail and holds works, too. Another possibility is early panic if it does not gap down too much or opens flat or a bit more to fade scalp.


This has some momentum having filled a chart gap. I like on a continuation play above 8.77 and holds on strong volume. Also long on spiking up at or near the bell as a scalp. Avoid all big gaps and shorts.


B/O &  Parabolic Sar scan. I like it long on a continuation play above the close or high of Tuesday. Needs to stay above 5.50 on pull backs to remain viable for longs. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Huge volume on the rise, a negative sign. Some resistance at 6 though if it can take and hold that more gains might follow.


Volume nice on the rise up today, this is play both ways. As a short on a fail at 3 as resistance on an attempt. It's up A/H currently near that, around 2% or so. Or on heavy volume sell dumps. Long on a B/O over 3 and holds or on spiking up at or near the bell. Avoid all big gaps. A live price action situation. If it gaps over and fall fails back below that is also a fade play. Stops based on over/under 3 or the initial 30 minuter next time.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed below the open but 2.5%+ on Tuesday due to a gap up. Stop above the previous day session high (6.95) to cap losses on head fake fade entries. More conservatively, stop above the close on Tuesday f it starts off net negative. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Medium level sell volume Friday which is neutral for fades. 7 fail desirable, respect stops. If it maintains over that, get out.

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:


No comments: